Cogent Biosciences, Inc. (NASDAQ:COGT) Stock Holdings Decreased by Silverarc Capital Management LLC

Silverarc Capital Management LLC lowered its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) by 24.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 921,137 shares of the technology company's stock after selling 300,225 shares during the quarter. Cogent Biosciences makes up approximately 1.6% of Silverarc Capital Management LLC's holdings, making the stock its 21st biggest holding. Silverarc Capital Management LLC owned approximately 0.83% of Cogent Biosciences worth $7,185,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hsbc Holdings PLC acquired a new stake in shares of Cogent Biosciences during the fourth quarter worth $81,000. KLP Kapitalforvaltning AS purchased a new stake in Cogent Biosciences in the 4th quarter valued at about $88,000. E Fund Management Co. Ltd. acquired a new position in shares of Cogent Biosciences during the 4th quarter valued at about $89,000. Proficio Capital Partners LLC purchased a new position in shares of Cogent Biosciences during the 4th quarter worth about $93,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Cogent Biosciences by 1,911.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,167 shares of the technology company's stock worth $95,000 after acquiring an additional 11,562 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have weighed in on COGT. Needham & Company LLC reiterated a "hold" rating on shares of Cogent Biosciences in a report on Wednesday, February 26th. Robert W. Baird dropped their price target on Cogent Biosciences from $10.00 to $8.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Scotiabank assumed coverage on Cogent Biosciences in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $17.00 price objective on the stock. Wedbush restated a "neutral" rating and issued a $11.00 price target on shares of Cogent Biosciences in a report on Tuesday, February 25th. Finally, HC Wainwright decreased their price objective on shares of Cogent Biosciences from $17.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $14.43.

Cogent Biosciences Stock Performance

Shares of COGT stock traded up $0.13 on Friday, hitting $4.64. The stock had a trading volume of 1,026,762 shares, compared to its average volume of 1,262,785. The stock's 50 day moving average is $6.10 and its 200-day moving average is $8.18. The firm has a market capitalization of $528.26 million, a price-to-earnings ratio of -1.87 and a beta of 1.67. Cogent Biosciences, Inc. has a 52-week low of $3.72 and a 52-week high of $12.61.

About Cogent Biosciences

Cogent Biosciences, Inc, a biotechnology company, focuses on developing precision therapies for genetically defined diseases. Its lead product candidate includes bezuclastinib (CGT9486), a selective tyrosine kinase inhibitor designed to target mutations within the KIT receptor tyrosine kinase, including KIT D816V KIT D816V mutation that drives systemic mastocytosis, as well as other mutations in KIT exon 17, which are found in patients with advanced gastrointestinal stromal tumors.